The Competition Commission and the Competition Tribunal can do much more than simply acting as a policing mechanism for the government’s affirmative action codes.
The Commissioner of the Competition Commission, Mr Tembinkosi Bonakele, confirmed on 20 October 2020, in response to a question by the FF Plus during a presentation by the Competition Commission that the Commission’s main focus is to redress the so-called injustices of the past and to promote access to black-owned small to medium enterprises (SMEs).
In other words, in its assessment of possible monopolies and mergers of enterprises, race, and not just healthy business principles, is taken into account.
The FF Plus would like to see the Commission and Tribunal focus more on establishing a fair business environment and promoting localism by encouraging local economic development.
Economic growth is absolutely essential for the creation of new business and job opportunities. Merely redistributing existing wealth and resources ultimately comes down to the redistribution of poverty.
The ANC’s legacy of state capture and corruption over the last 26 years has done immeasurable damage to the economy and the sustainability of small to medium enterprises.
The FF Plus is committed to encouraging the development of local economies and to support small to medium enterprises without exclusion.
Read the original article in Afrikaans by Jaco Mulder on FF Plus
South Africa Today – South Africa News
